Golf Mill Shopping Center (2026)_Property for Sale
Golf Mill Shopping Center (2026)_Property for Sale

Golf Mill Shopping Center (2026)

239 Golf Mill Ctr, Niles, IL, 60714-5658, US

Description

Jones Lang LaSalle Americas, L.P. (“JLL”) has been retained on an exclusive basis to offer qualified investors the opportunity to acquire Golf Mill Town Center – a 1.1 million square foot regional mall situated on 79-acres in a high barrier to entry location within the City of Niles, a northwest Chicago suburb.


While the Property offers flexibility for future use, it has been approved for a transformative redevelopment into a vibrant, mixed-use project with open-air retail, multifamily, hospitality, and medical office uses. The current redevelopment plans contemplate repositioning the long-standing enclosed mall into a highly functional mixed-use project that will include several category leading national anchors such as Target, Ross Dress for Less, Burlington, ULTA, and others. The project has been approved to receive Tax Incremental Financing (TIF) for up to $96M based on the current plans. In addition, the seller is under contract to sell 13.1 acres of land to two separate multifamily developers for $13.9M, lowering a potential investor’s basis. Golf Mill Town Center is a unique opportunity to acquire a value-add, mixed-use redevelopment project anchored by market dominant tenancy.

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Attributes

Building area net
1,141,057 sf
Year built
1957
Land area net
78.81 acres
Year renovated
2007

Media

Investment highlights

  1. Premier Location in High-Growth Chicago Submarket:
  2. Prime 79-acre site with 2,700 linear feet frontage on Golf Road (35,000 VPD) and Milwaukee Avenue (36,000 VPD)
  3. 15 miles from downtown Chicago with excellent highway and public transit access
  4. Dense, affluent trade area: 351,636 people within 20 minutes earning $149,506 average HHI
  5. 4.7M+ annual visits with 791,000 unique visitors
  6. Exceptional Rent Growth Potential:
  7. Existing anchor rents at $7.95 PSF vs. market average of $25.43 PSF (~3x below market)
  8. Substantial mark-to-market opportunity upon lease renewals
  9. Fully Entitled with Unprecedented Public Support:
  10. Redevelopment Agreement unanimously approved by Village of Niles
  11. ~75% of Niles residents approved redevelopment via referendum
  12. Tax-exempt TIF revenue bonds provide low-cost, long-term financing
  13. Significantly De-Risked Investment:
  14. 45.2% of Phase I retail already pre-leased to credit anchors
  15. 13.1 acres under contract for sale for $13.9M (materially lowers basis)
  16. Multiple offers received and pending on LA Fitness parcel
  17. Projected $2.8M NOI from 10 new outparcels along Milwaukee Avenue
  18. Resilient Market with Strong Supply Constraints:
  19. High barrier to entry market with minimal new retail supply
  20. Near North retail submarket: 4.4% vacancy, $24.78 PSF average rent, positive absorption trends
  21. Strong demand for medical office (93.2% occupancy) and multifamily in trade area


Golf Mill Shopping Center (2026) 4_Property for Sale
Golf Mill Shopping Center (2026) 4_Property for Sale

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Golf Mill Shopping Center (2026) (0 Properties)

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Last updated
Mar 17, 2026